sortiwa
Online shopping and online bill payment platforms have made it significantly easier for consumers to get what they need and to cover their living costs. Despite their high level of convenience, however, digital transactions are also incredibly high-risk. If you aren’t careful, you’ll soon have unknown parties applying for and using credit in your name, withdrawing funds from your banking accounts, stealing your tax refund, or even using your health insurance. The good news is that there are four tips that you can use to keep your information protected from theft.
1. Diligently Monitor Your Credit Report
If you wait for lenders or financing companies to pull your credit report as part of an application process, you may be in store for many unpleasant surprises. Staying on top of this report as a matter of principle will ensure that unexpected activities are identified right away. Each of the three main credit reporting bureaus will provide you with a free copy of your credit report once each year. Moreover, these agencies and their affiliates additionally offer regular credit monitoring, free dark web surveillance reports, and monthly updates upon request. Several third-party credit monitoring companies can give you real-time updates of any changes without negatively impacting your score. With any of these updates, you can quickly identify unauthorized use of your personal information and put a stop to it.
2. Go the Extra Mile With Your Passwords
Consumers are required to remember a seemingly endless array of numbers, passwords, and usernames. This makes it easy to simply pick a username and password combination and then stick with it clear across the board. When you do this, anyone who has access to one of your accounts will be able to log into every other security system that you’re using. This makes it essential to establish unique login information for each platform or system that you rely on. You should not use the same login combination for any digital wallets you’re using as the one used for your online banking, online payroll tracking, or web-based health insurance platform. Another critical mistake to avoid is using your social security number’s last four digits as a personal identification number (PIN) for any bank card, credit card, or debit card.
If you find yourself having a hard time keeping up with all of your PINs, passwords, usernames, and other login or access data, you can also invest in a secure password tracking program to keep these things safely recorded and stored and accessible only to you.
3. Be Sure to Only Work With Reputable, PCI-Compliant Merchants
When shopping online, always work with reputable merchants who’ve made PCI compliance a priority. PCI DDS-compliance means that companies adhere to a rigorous set of standards established by branded credit cards to protect consumers against a vast range of major credit card schemes. As a consumer, evidence of this compliance means that you can confidently use your credit cards without fear of having your information be harvested, sold, and ultimately used by an unknown, ill-intentioned party. Companies that prioritize data protection for their clients often work with Mako Networks to obtain reliable network monitoring systems, cloud-based data management, and other digital tours for ongoing, infallible security and assured compliance.
4. Take Advantage of Single-Use Credit Cards
When you intend to make online purchases but aren’t entirely comfortable with the level of data protection that a merchant has in place, you can always take advantage of single-use credit cards. These are cards that banking institutions can issue to account holders for one-time online purchases. You can key in this card information when checking out, and the necessary amount of money will be automatically deducted from your account. Although a single-use card will be directly associated with your banking account, it can never be used again once this card has been used. As such, anyone who steals it won’t be getting anything of value at all.
There are infinitely more ways to keep yourself protected in the digital age, including using your own private devices to complete and track your online purchases. The more diligent you are in safeguarding your personal information, the easier it will be to maintain a good credit score and ample purchasing power. With the four strategies above, you can enjoy all of the savings and convenience that online shopping and online bill payment platforms provide and without subjecting yourself to an excessive amount of risk.